Multibagger stock gains 836 per cent in just 6 months; Board announced bonus shares and stock split!
The stock gave multibagger returns of 836.66 per cent in just 6 months whereas BSE Capital Goods Index rose only 4.75 per cent.
The benchmark indices began the trading session lower on Thursday. The BSE Sensex Index was trading down by 0.40 per cent at 60,104.29. The indices were trading mixed on the sectoral front, with the BSE Capital Goods Index one of the gaining sectoral indices, up 0.34 per cent at 34,813.
Today, shares of Rhetan TMT Ltd surged 1.84 per cent to Rs 525 per share from its previous closing of Rs 515.50. The stock has a 52-week high of Rs 530 and a 52-week low of Rs 50.60.
The Board of Directors of Rhetan TMT Ltd, SME stock, informed the exchange (BSE) that as of the record date, the company has declared bonus shares in the ratio 11:4 and a stock split in the ratio 1:10 for the equity shares of the company. The record date has been confirmed as tomorrow, March 10, 2023.
Rhetan TMT Limited (BSE Script Code: 543590) manufactures TMT Bars and Round Bars for the construction industry. Its products have been used in the construction of dams, bridges, residential and commercial towers and major infrastructure projects in Gujarat.
Rhetan TMT has a market valuation of Rs 1,116 crore, according to the financials. Both the company's half-yearly and annual reports showed positive figures. In comparison to FY21, net sales and net profit in FY22 increased by 28.68 per cent and 1,707.69 per cent, respectively.
The stock gave multibagger returns of 836.66 per cent in just 6 months whereas BSE Capital Goods Index rose only 4.75 per cent.
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